Retail investors exposed to too much risk, says City watchdog February 18, 2020 Retail investors are being pushed into purchasing higher risk products that expose them to more risk than they can afford, the Financial Conduct Authority (FCA) has warned. In its annual report on the areas that could harm consumers, the City watchdog said that the sale of “unsuitable or fraudulent products” represents the most significant harm [...]
New Cenkos appointment is second female chair of a UK stockbroker February 18, 2020 Cenkos has today announced the appointment of Lisa Gordon as its new chairman, the second female to be appointed as chair of a UK stockbroker. Gordon was the youngest woman to be made director of a listed company when she joined the board of media group Chrysalis at the age of 28. She is currently [...]
Responsible innovation: how can European asset managers lead? February 18, 2020 | City Talk By Alejandro Hiniesto, CFA, Fabrizio Palmucci, CFA and Rhodri Preece, CFA Technology, regulation, and competition, as well as macroeconomic and geopolitical headwinds, mean the investment industry stands at a pivotal juncture. Pressure on profit margins and evolving client expectations serve to underscore that ‘business as usual’ is no longer sufficient. How can firms and practitioners adapt? Responsible [...]
Seven reasons why London will thrive regardless of Brexit February 17, 2020 | City Talk In the three-and-a-half years since the UK voted to leave the European Union (EU) much has been written about how London’s status as a global leader in financial services could be weakened. However, with a diverse economy, highly skilled workforce, wide tourist demand, world-class universities and cultural appeal, London will not only survive Brexit, but [...]
Interactive Investor to acquire The Share Centre for £62m February 17, 2020 Interactive Investor is to buy The Share Centre in a cash and shares deal worth around £61.9m, the companies announced this morning. The owner of The Share Centre’s stock surged as much as 17.24 per cent this morning following news of the offer. Announcing the deal, ii said retail investment platforms need scale to sustain [...]
Jupiter nears deal to buy asset manager Merian February 16, 2020 Jupiter Fund Management is close to buying Merian Global Investors from private equity firm TA Associates, in a deal that would create a merged company with £67bn of assets under management. The company said that “discussions have been underway for some time”, adding that both parties are “confident that the combination would have the potential [...]
Stockholm enters Global Cities top 30 for the first time February 14, 2020 | City Talk With a strong economy and commitment to reducing its environmental impact, Stockholm is the first Scandinavian city to make the top 30 of Schroders’ Global Cities Index. Stockholm has become the first Scandinavian city to enter the top 30 of the Schroders Global Cities Index. This is because of its robust economy and committment to reducing [...]
NMC Health shares tumble on double downgrade from Societe Generale February 13, 2020 Shares in NMC Health fell as much as 11 per cent on Thursday after the embattled hospital operator was hit with a double rating downgrade from Societe Generale. Analysts at the French bank slashed NMC’s price target by 85 per cent, saying that confidence in the company, the biggest healthcare operator in the United Arab [...]
Amundi’s assets under management hit €1.65 trillion February 12, 2020 Amundi’s assets under management (AUM) reached €1.65 trillion (£1.38 trillion) in 2019, with the French asset manager boosted by a record fourth quarter. Inflows hit a record £76.8bn during the fourth quarter, including £59.6bn received from a new pension fund mandate at Amundi’s Indian joint venture, it said. Net inflows for the entire year were [...]
Softbank profit plunges 99 per cent on heavy Vision Fund losses February 12, 2020 Softbank’s quarterly profit has been almost entirely wiped out after heavy losses from its Vision Fund hit the technology investor for the second consecutive quarter. The Japanese conglomerate’s operating profit from October to December plummeted 99 per cent to just ¥2.59bn (£18.2m) after its Vision Fund and a related vehicle recorded a $2bn loss. Softbank [...]